"Weak EMH" is the claim that you can't systematically exploit market irrationalities to make money. Weak EMH has actually held up pretty well.
There are people who make money off of, say, arbitrage against foreign currencies. Someone has to be keeping the rates in line when they go off slightly. The problem is that you need huge amounts of capital to do this effectively, so it's limited to institutional investors.
I'm trying to better understand the relationship between incentivization and rationality, and it occurred to me that it is a "folk fact" around here that large financial incentives don't make cognitive biases go away.
However, I can't seem to find any papers that actually say this. It's not easy to google for (I have tried) so I wonder if the Less Wrong collective memory knows how to find the papers?
Is there a pattern to which biases go away with incentivization? Do we have at least 5 examples of biases that go away with incentivization and 5 examples that don't go away with incentivization?
As an incentive, I'll paypal $10 to the commenter whose answer is least biased and most useful.